Next Financial Group, Inc. Financial Advisor Stephen Williams Investment Losses
Posted on Thursday, December 13th, 2018 at 8:41 am
Have you suffered investments losses due to recommendations from Next Financial Group, Inc. financial advisor Stephen Williams (CRD# 2395948)? Williams has been registered with Next Financial Group, Inc. in Madison, Alabama since 2007.
Williams has been the subject of eight customer complaints between 2004 and 2018, one of which was denied, according to his CRD report. Recent cases are regarding:
August 2018. “Customer alleges that his and his deceased mother’s investments purchased during the period March 2005 through December 2008 are now worthless or illiquid and he is seeking compensation.” The customer sought $5,000 in damages and the case was settled for $24,000.
February 2018. “Customer alleges around June 2008, registered representative recommended various non-traded REITs, misrepresented the products and failed to disclose properly the serious risks associated with private products, the characteristics and nature of the products.” The customer is seeking $350,000 in damages.
February 2018. “Customer’s attorney alleges in 2008 registered representative solicited customer to invest $50,000 in UDF III. Representative purportedly misrepresented the investment and failed to inform customer this investment was risky and illiquid.” The customer is seeking 50,000 in damages and the case is currently pending.
August 2017. “Allegations of unsuitable sales of non-traded REITS in 2007.” The customer sought $50,000 in damages and the case was settled for $3,900.
July 2017. “Allegations of unsuitable sales of five non-traded REITS during the period March 2005 through December 2008, two of which were sold prior to registered representative joining NEXT Financial Group, Inc.” The customer sought $5,000 in damages and the case was settled for $37,500.
January 2011. “Around april 2008, claimant alleges representative misrepresented an unsuitable product, provident shale royalties 8.” The customer sought $80,000 in damages and the case was settled for $50,000.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Next Financial Group, Inc. may be liable for investment or other losses suffered by Williams’ customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.